Monthly foreclosure starts declined in September but foreclosure timelines continue to grow especially in states that utilize the judicial foreclosure process according to the Mortgage Monitor Report for September by Lender Processing Services (LPS).

Foreclosure starts declined by 11.2 percent from August to September, which was slightly below the three year average. A total of 220,273 foreclosure starts were initiated in September, down from 247,957 in August, which had posted the highest amount of foreclosure starts this year.

The time from last payment to foreclosure sale averaged 624 days in September, up from 611 in August, yet another record. September’s data continues to show significant differences in foreclosure timelines between states that use the judicial foreclosure process and states that use the non-judicial foreclosure process.

The average timeline from last payment to foreclosure sale in states that utilize the judicial foreclosure process was 761 days in September, while states that utilize the non-judicial foreclosure process had an average timeline of 565 days.

Seven of the ten states that have the highest percentage of non-current loans are judicial foreclosure states. Foreclosure inventories in judicial states are more than double that of non-judicial states and while foreclosure inventories in non-judicial states has remained steady since 2009, foreclosure inventories in judicial states continues to steadily climb.

Almost 40 percent of the loans in foreclosure nationwide have not made a payment in two years while 72 percent have not made a payment in a year or more.

The rate of new problem loans, those that were current six months ago but are now 60 days or more delinquent, has increased sharply over the last two months, jumping up to 1.6 percent of current loans, while first time delinquencies have climbed from 22 percent of all delinquencies in April to 26 percent in September.

Earlier highlights from LPS’s “First Look” report include:

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 8.09% compared to 8.13% in August 2011

Month-over-month change in delinquency rate: -0.5% compared to -2.5% in August 2011

Year-over-year change in delinquency rate: -12.7% compared to 4.11% in August 2011

Total U.S foreclosure pre-sale inventory rate: 4.18% compared to 4.11% in July 2011

Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.

If you are thinking of selling your home, chances are you’re caught up in a mass of emotions. Needs change and although you may be looking forward to this new adventure, you'll probably find yourself reluctant to leave your memories behind and face the overwhelming task of selling your home and moving.

Monthly foreclosure starts declined in September but foreclosure timelines continue to grow especially in states that utilize the judicial foreclosure process according to the Mortgage Monitor Report for September by Lender Processing Services (LPS).

Foreclosure starts declined by 11.2 percent from August to September, which was slightly below the three year average. A total of 220,273 foreclosure starts were initiated in September, down from 247,957 in August, which had posted the highest amount of foreclosure starts this year.

The time from last payment to foreclosure sale averaged 624 days in September, up from 611 in August, yet another record. September’s data continues to show significant differences in foreclosure timelines between states that use the judicial foreclosure process and states that use the non-judicial foreclosure process.

The average timeline from last payment to foreclosure sale in states that utilize the judicial foreclosure process was 761 days in September, while states that utilize the non-judicial foreclosure process had an average timeline of 565 days.

Seven of the ten states that have the highest percentage of non-current loans are judicial foreclosure states. Foreclosure inventories in judicial states are more than double that of non-judicial states and while foreclosure inventories in non-judicial states has remained steady since 2009, foreclosure inventories in judicial states continues to steadily climb.

Almost 40 percent of the loans in foreclosure nationwide have not made a payment in two years while 72 percent have not made a payment in a year or more.

The rate of new problem loans, those that were current six months ago but are now 60 days or more delinquent, has increased sharply over the last two months, jumping up to 1.6 percent of current loans, while first time delinquencies have climbed from 22 percent of all delinquencies in April to 26 percent in September.

Earlier highlights from LPS’s “First Look” report include:

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 8.09% compared to 8.13% in August 2011

Month-over-month change in delinquency rate: -0.5% compared to -2.5% in August 2011

Year-over-year change in delinquency rate: -12.7% compared to 4.11% in August 2011

Total U.S foreclosure pre-sale inventory rate: 4.18% compared to 4.11% in July 2011

Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.

If you are thinking of selling your home, chances are you’re caught up in a mass of emotions. Needs change and although you may be looking forward to this new adventure, you'll probably find yourself reluctant to leave your memories behind and face the overwhelming task of selling your home and moving.

Monthly foreclosure starts declined in September but foreclosure timelines continue to grow especially in states that utilize the judicial foreclosure process according to the Mortgage Monitor Report for September by Lender Processing Services (LPS).

Foreclosure starts declined by 11.2 percent from August to September, which was slightly below the three year average. A total of 220,273 foreclosure starts were initiated in September, down from 247,957 in August, which had posted the highest amount of foreclosure starts this year.

The time from last payment to foreclosure sale averaged 624 days in September, up from 611 in August, yet another record. September’s data continues to show significant differences in foreclosure timelines between states that use the judicial foreclosure process and states that use the non-judicial foreclosure process.

The average timeline from last payment to foreclosure sale in states that utilize the judicial foreclosure process was 761 days in September, while states that utilize the non-judicial foreclosure process had an average timeline of 565 days.

Seven of the ten states that have the highest percentage of non-current loans are judicial foreclosure states. Foreclosure inventories in judicial states are more than double that of non-judicial states and while foreclosure inventories in non-judicial states has remained steady since 2009, foreclosure inventories in judicial states continues to steadily climb.

Almost 40 percent of the loans in foreclosure nationwide have not made a payment in two years while 72 percent have not made a payment in a year or more.

The rate of new problem loans, those that were current six months ago but are now 60 days or more delinquent, has increased sharply over the last two months, jumping up to 1.6 percent of current loans, while first time delinquencies have climbed from 22 percent of all delinquencies in April to 26 percent in September.

Earlier highlights from LPS’s “First Look” report include:

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 8.09% compared to 8.13% in August 2011

Month-over-month change in delinquency rate: -0.5% compared to -2.5% in August 2011

Year-over-year change in delinquency rate: -12.7% compared to 4.11% in August 2011

Total U.S foreclosure pre-sale inventory rate: 4.18% compared to 4.11% in July 2011

Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.

If you are thinking of selling your home, chances are you’re caught up in a mass of emotions. Needs change and although you may be looking forward to this new adventure, you'll probably find yourself reluctant to leave your memories behind and face the overwhelming task of selling your home and moving.

Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.

FIND THE CREDIT CARD THAT'S RIGHT FOR YOU

THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.

YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

LoanRateUpdate

LoanRateUpdate.com is an independent marketing leads generator. We are not a loan broker or lender. LoanRateUpdate.com is an advertising supported publisher and loan rate comparison service that is compensated by third party affiliates for the information you provide to us through the featured placement of sponsored products and services or by clicking on links posted on this website. Not all companies or products are represented through this website. Usage of this site is only available to persons in the continental United States, Alaska and Hawaii.

Copyright 2010 - 2017 LoanRateUpdate.com | All Rights ReservedThe information contained in this website is for general information purposes only. We make no representations or warranties of any kind, expressed or implied, about the completeness, accuracy, or reliability of the information, products, or services contained on the website. Any reliance you place on such information is therefore strictly at your own risk.